23,420 Shares in Ovintiv Inc. $OVV Purchased by Friedenthal Financial

Friedenthal Financial acquired a new position in Ovintiv Inc. (NYSE:OVV - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,420 shares of the company's stock, valued at approximately $891,000.

A number of other large investors have also modified their holdings of the company. Dogwood Wealth Management LLC acquired a new position in Ovintiv during the 2nd quarter valued at about $35,000. Harbour Investments Inc. increased its stake in Ovintiv by 143.8% during the 1st quarter. Harbour Investments Inc. now owns 919 shares of the company's stock valued at $39,000 after buying an additional 542 shares during the period. Gen Wealth Partners Inc increased its stake in Ovintiv by 91.8% during the 1st quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company's stock valued at $43,000 after buying an additional 484 shares during the period. SVB Wealth LLC acquired a new position in Ovintiv during the 1st quarter valued at about $48,000. Finally, Smartleaf Asset Management LLC increased its stake in Ovintiv by 43.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,154 shares of the company's stock valued at $49,000 after buying an additional 349 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Stock Performance

Shares of OVV opened at $39.72 on Wednesday. Ovintiv Inc. has a one year low of $29.80 and a one year high of $47.18. The company has a 50-day moving average of $40.86 and a two-hundred day moving average of $38.93. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 5.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43.

Ovintiv (NYSE:OVV - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.02). Ovintiv had a return on equity of 14.24% and a net margin of 6.46%.The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.92 billion. On average, equities research analysts expect that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Ovintiv's dividend payout ratio (DPR) is currently 53.10%.

Analyst Upgrades and Downgrades

Several research firms have commented on OVV. Scotiabank raised their target price on shares of Ovintiv from $48.00 to $51.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Zacks Research cut shares of Ovintiv from a "hold" rating to a "strong sell" rating in a research note on Friday, September 26th. Citigroup set a $54.00 price objective on shares of Ovintiv and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Barclays lowered their price objective on shares of Ovintiv from $57.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $55.00 price objective on shares of Ovintiv in a research note on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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